Pirelli : Another solid quarter
>Q3 a shade better than expected despite volumes, few revisions in sight - Pirelli’s Q3 2023 earnings came in slightly above expectations (+2% on EBIT, +17% on FCF) and were again marked by very robust price-mix momentum (+6.8%) which more than offset the fall in volumes (-4.6%) and other headwinds (mainly inflation and FX). Otherwise, the 2023 outlook was as expected broadly confirmed (guidance narrowed towards the upper end of the range for EBIT and FCF) despite the...Pirelli & Co. is a holding company that manages, coordinates and finances the operations of its subsidiaries, which are mainly active in the tyre sector. Other activities relate to the emissions control technologies, renewable energy sources and fashion industries. Co.'s Total Tyre Business is split into: the Consumer Business segment that includes car and motorcycle tyres made for both the original equipment and replacement markets; and the Industrial Business segment that includes truck tyres, tyres for agricultural equipment, made both for the original equipment and replacement markets, and the steel cord business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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